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Republic Services vs Waste Connections: RSG and WCN compared
Republic Services is the larger company: $5.2B of revenue in its latest quarter (Q3 2026) against $2.6B for Waste Connections (Q3 2026). Republic Services is growing faster (+8% against +7% a year earlier). Waste Connections is more profitable, with an operating margin of 20.5% against 17.7%.
Where the money goes: RSG and WCN
Republic Services (RSG) · Q3 2026
Republic Services, Q3 2026: revenue $5.2B (+8% year over year), operating margin 17.7%, net earnings $593M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
Waste Connections (WCN) · Q3 2026
Waste Connections, Q3 2026: revenue $2.6B (+7% year over year), operating margin 20.5%, net earnings $359M, operating cash flow $692M. The chart follows the revenue to costs, profit and cash.
| Republic Services (RSG) | Waste Connections (WCN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $5.2B | $2.6B |
| Revenue growth, Y/Y | +8% | +7% |
| Operating margin | 17.7% | 20.5% |
| Net earnings | $593M | $359M |
| Net margin | 11.4% | 13.6% |
| Operating cash flow | $1.1B | $692M |
| Free cash flow | $644M | $397M |
| Market value | $76.4B | $47.5B |
| P/E | 34.5× | 42.2× |
| Analysts’ mean target | $256.00 | $206.48 |
Where the revenue comes from
Waste Connections
- Collection: $1.8B (69%)
- Western: $522M (20%)
- MidSouth: $301M (11%)
Questions
Which is bigger, Republic Services or Waste Connections?
Republic Services is the larger company: $5.2B of revenue in its latest quarter (Q3 2026) against $2.6B for Waste Connections (Q3 2026).
Is Republic Services or Waste Connections growing faster?
Republic Services is growing faster (+8% against +7% a year earlier).
Which is more profitable, Republic Services or Waste Connections?
Waste Connections is more profitable, with an operating margin of 20.5% against 17.7%.
More: Republic Services earnings · how Republic Services makes money · Waste Connections earnings · how Waste Connections makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Oct 22, 2026). Fiscal quarters can end on different dates. Not investment advice.